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Latest - PENSIONS

  • Technical – Tangible Moveable Property in SIPPs

    9 July 2018

    Geoff Buck, associate director, DP Pensions, looks at what is Tangible Moveable Property and what it all means for SIPP investors Strictly speaking, any investment into a pension scheme is allowable and HMRC make no secret of that. However, the issue is that some investments carry a tax charge which would be levied against...

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  • Conflicting views on Pensions Dashboard

    9 July 2018

    Currently, there are discrepancies in some areas between Government and industry views of what the Pensions Dashboard should look like and how it should operate.  The Department for Work & Pensions (DWP) recently published its response to the Work and Pensions Select Committee report on the Pension Freedoms. Within the Select Committee’s report were...

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  • Are investment pathways for drawdown the right way forward?

    8 July 2018

    The FCA wants to introduce investment pathways for consumers entering drawdown as part of its drive to ensure consumers are receiving value for money.  In its Retirement Outcomes Review, the Financial Conduct Authority (FCA) reported that one in three consumers in drawdown were unsure of where their money was invested. Meanwhile, a third of...

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  • Key points from the FCA Retirement Outcomes Review

    5 July 2018

    Jessica List, pension technical manager, Curtis Banks Group, provides the group’s thoughts on the Retirement Outcomes Review and the potential impact on savers and investors. Almost a year after the interim report of 2017, the FCA’s long-awaited Retirement Outcomes Review final report was published on 28 June 2018, along with new consultation paper CP18/17....

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  • Supreme Court ruling on civil partnership will affect inheritance and tax rights

    3 July 2018

    The Supreme Court has ruled that a heterosexual couple can enter a civil partnership, offering legal and financial protection for both parties and a host of benefits including inheritance, tax, pensions and next-of-kin arrangements. Rachael Griffin, tax and financial planning expert, Old Mutual Wealth, said: “The future of civil partnerships has been swung wide...

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  • Default decumulation option inconsistent with freedom and choice reforms, says DWP

    3 July 2018

    The pensions industry has welcomed the government’s decision to reject a proposal to introduce a default decumulation pathway at retirement. In April, The Work and Pensions Committee published a report in which it recommended that every pension provider offering drawdown be required by FCA rules to offer a default decumulation option. However, in its...

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  • Put yourself first – think about your retirement earlier, over 45s urged

    2 July 2018

    New research has found that 62 is the age at which Britons finally start to enjoy their wealth and concentrate on their own future. So should they be meaner and start thinking about themselves earlier? The findings by pension advice specialist Portafina also revealed that the top five aspirations of those aged 45 and above...

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  • Voluntary code of conduct proposed for pensions advice

    2 July 2018

    The Personal Finance Society has formed a new Pensions Advice Taskforce, designed to provide a voluntary code of conduct for the pensions advice industry, in the wake of the British Steel Pension Scheme scenario. The PFS said its main focus was upon sharing good practice and providing a code of conduct that “gives clear...

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